Will the decline in the Floki (FLOKI) price end?

The decline in the leading crypto Bitcoin ($BTC ) accelerated the outflow of money from memecoins. Memecoins, which had achieved sharp increases throughout October, lost blood as the outlook for BTC turned negative.

FLOKI, which is closely followed by crypto investors, fell by nearly 20 percent in November. AMBCrypto stated that FLOKI has entered a potential accumulation phase and that the downtrend may soon end.

In its graphic analysis, AMBCrypto placed a Fibonacci between the highs of July and the lows of August. The indicator in question highlighted the $ 0.00012 level as a short-term support point.

“If signs of recovery are seen in Bitcoin after the US elections, FLOKI's $ 0.00012 support may work successfully. This support point could help stop the price decline.

AMBCrypto predicted that FLOKI could fall to $0.000069 if the market decline continues after the elections. The indicated support point stands out as the lowest level of August.

In the analysis, it was stated that on-chain measurements indicate an accumulation phase. $FLOKI may gain upward momentum with the market sentiment turning positive and the successful conclusion of the accumulation phase.

In the graphical analysis, $0.00014 and $0.000153 levels were shown as important resistance points. If $FLOKI overcomes the resistance points, it may touch $0.00016 in a short time.

According to CoinGecko data, FLOKI recorded a trading volume of $201 million in the last 24 hours. The popular memecoin is trading at $0.0001229.

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